Mulberry recently created a fashion frenzy with the Alexa bag (pictured above). The messenger-tote bag hybrid was inspired by former MTV host and fashion muse Alexa Chung. It's so sought after that the waiting list is reported to contain thousands of eager buyers.

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The Bayswater tote (pictured below), however, is Mulberry's most iconic piece. It features a timeless shape and comes in a variety of colors. Here's hoping the Target collection features incarnations of both the Alexa and Bayswater looks!

The limited edition collection of lower-priced handbags is set to hit shelves on October 10th, 2010 and will be available through December 24th. But let's face it, it'll be sold out within a matter of minutes.

What are your thoughts?

Will you be scouring your local Target stores this fall for the Mulberry collection? Do you have experience with previous Target-designer collaborations? Let us know what you think and leave a comment!